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Tag Archives: entry
Paper trade: Short USDCAD @ 1.0671, Stop 1.0756, Target 1.05761
Perhaps third times’ the charm? I tried to short USDCAD twice last week already. Both times I’ve been stopped out for a total of -0.2% of account loss. My intermediate term analysis remains the same as before. So I won’t repeat myself here.
Entry signal for this particular short is shown in [...]
Paper trade: Stopped out of USDCAD short @ 1.0640 for -67 pips, re-entering @ 1.0680
Well this was awful. USDCAD continued on a rampage upward and I was caught on the wrong side of the fence. Total loss for this was 0.12% of my account. At least I was light in it.
In retrospect, I broke my own rule and didn’t enter at one of the 4 fundamental entry points. [...]
Paper trade: Short USD/CAD @ 1.0573, Stop 1.0640, Target 1.0415
Taking a first position in USD/CAD short here at 1.0573 on a 4-hour moving averages cross-over (Figure 1). I’ve also placed a limit order to add more at 1.0519 below Fibonacci support (shown in Figure 1). Reason for this trade is that USD/CAD is moving away from an upper bound channel with a overbought stochastic [...]
Paper trade: GBPJPY @ 145.24, Stop 144.70, Target 148
Update: I’ve switched over to long EURJPY @ 125.40 as EURGBP’s downtrend seem to be running out of steam. Moreover, EURJPY looks better on the daily chart with a clear support and an oversold reading.
I’m back in my long GBPJPY play at 145.24. The currency pair is breaking an hourly resistance since consolidating around 145. [...]
Paper Trade: Long GBPJPY @ 144.24, Stop 143.60, Target 148
My previous short-side setup on GBP/JPY played out beautifully. Yet I wasn’t able to ride it down because I got stopped out on a stop-hunt counter-move before the dive, see Fig. 1. Now that GBP/JPY has reached its other end. I am betting for it to go reverse with a long position. I expect this [...]
Paper trade: Short GBPJPY @ 146.32, Target 143
GBP/JPY finally broke below an intermediate term wedge pattern formed from Dec 30. See Figure 1 for the daily chart. I am noticeably late in this GBP/JPY short entry because I was preoccupied with other positions (e.g. my EUR/CHF and GBPCHF shorts) today. Click here to continue reading... (301 words)
A change of wind for Australian dollar: Shorted AUDUSD @ 0.9183 and AUDCAD @ 0.9546
I have been barking up the short-Aussie-tree since the beginning of the year. See post #1, #2 on AUDJPY, and #3, #4 on AUDCAD for the long term analysis. (Also see my post on being early shorting the Aussie.) Anyway, now that AUDUSD has backed off the 9300 level with a bang, it seems that [...]
My name is Paul and I am a full-time engineer, part-time trader. Back in 2000, I deposited my $5000 interest-free student loan with an online broker. Since then, my interest in trading has become an obsession.
Paper trade: Long CADJPY @ 86.88, Stop 86.10, Target 88.0